Home / Dashcoin News /Mastercard Debuts Blockchain Surveillance Tool For Banks And Crypto-Centric Card Issuers

Mastercard Debuts Blockchain Surveillance Tool For Banks And Crypto-Centric Card Issuers

04 Oct 2022

According to reports, Tesla’s Elon Musk now plans to purchase Twitter Inc. for the original asking price of $54.20 a share. Twitter’s shares surged following the news and climbed nearly 20% higher and trading was halted twice so far.

It seems Elon Musk is planning to follow through with his deal to acquire Twitter (NYSE: TWTR) after he wanted to drop the deal over a lack of information concerning automated accounts known as bots. The news follows the recent shareholders’ vote that saw Musk overwhelmingly chosen by the majority of shareholders. Bloomberg was the first to report on the news on Tuesday, October 4, 2022, and after Bloomberg’s report was published, Twitter shares surged causing NYSE’s equity markets to halt trading.

At press time, Twitter shares are up 12.67% and the price is around $47.93 per TWTR share. The report stemming from Bloomberg, written by Jef Feely and Ed Hammond cites people with knowledge of the matter and it is said that Musk wrote a letter to Twitter. According to CNBC, the newsdesk “independently confirmed Musk’s renewed offer.” The latest deal also follows the commentary between the former Twitter CEO Jack Dorsey and the Tesla executive.

The texts between Dorsey and Musk explain why Dorsey decided to leave Twitter as he stressed that the social media platform should have never become a company. “A new platform is needed. It can’t be a company. This is why I left,” Dorsey wrote. The Twitter founder further added that the social media platform should be “an open source protocol, funded by a foundation of sorts that doesn’t own the protocol, only advances it.”

Furthermore, Musk was fighting with Twitter about lack of information concerning the social media platform’s number of automated accounts. He explained that he was going to walk away from the deal and he outlined some of the reasons why he want to terminate the purchase. Prior to the recent letter to Twitter that says Musk will go through with the purchase, the two parties (Musk & Twitter) were planning to convene in court on October 17 over the disagreements and termination.

What do you think about the reports that say Elon Musk is now going to follow through with the Twitter acquisition? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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According to reports, Tesla’s Elon Musk now plans to purchase Twitter Inc. for the original asking price of $54.20 a share. Twitter’s shares surged following the news and climbed nearly 20% higher and trading was halted twice so far.

It seems Elon Musk is planning to follow through with his deal to acquire Twitter (NYSE: TWTR) after he wanted to drop the deal over a lack of information concerning automated accounts known as bots. The news follows the recent shareholders’ vote that saw Musk overwhelmingly chosen by the majority of shareholders. Bloomberg was the first to report on the news on Tuesday, October 4, 2022, and after Bloomberg’s report was published, Twitter shares surged causing NYSE’s equity markets to halt trading.

At press time, Twitter shares are up 12.67% and the price is around $47.93 per TWTR share. The report stemming from Bloomberg, written by Jef Feely and Ed Hammond cites people with knowledge of the matter and it is said that Musk wrote a letter to Twitter. According to CNBC, the newsdesk “independently confirmed Musk’s renewed offer.” The latest deal also follows the commentary between the former Twitter CEO Jack Dorsey and the Tesla executive.

The texts between Dorsey and Musk explain why Dorsey decided to leave Twitter as he stressed that the social media platform should have never become a company. “A new platform is needed. It can’t be a company. This is why I left,” Dorsey wrote. The Twitter founder further added that the social media platform should be “an open source protocol, funded by a foundation of sorts that doesn’t own the protocol, only advances it.”

Furthermore, Musk was fighting with Twitter about lack of information concerning the social media platform’s number of automated accounts. He explained that he was going to walk away from the deal and he outlined some of the reasons why he want to terminate the purchase. Prior to the recent letter to Twitter that says Musk will go through with the purchase, the two parties (Musk & Twitter) were planning to convene in court on October 17 over the disagreements and termination.

What do you think about the reports that say Elon Musk is now going to follow through with the Twitter acquisition? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

On Tuesday, the multinational financial services corporation Mastercard revealed that it is launching a new crypto monitoring product called Crypto Secure. The Crypto Secure software aims to leverage artificial intelligence (AI) algorithms in order to help banks and crypto-centric debit card issuers identify fraudulent crypto transactions.

Mastercard (NYSE: MA) has introduced a new piece of software that leverages blockchain surveillance tactics and AI to identify fraudulent crypto transactions. The finance company shared the news exclusively with CNBC and according to the firm, the new software was developed by Ciphertrace. The blockchain intelligence company Ciphertrace was acquired by Mastercard last year. “Our two companies share this vision to provide security and trust throughout the ecosystem,” Dave Jevans, the CEO of Ciphertrace said at the time.

The new Crypto Secure software will provide financial institutions and crypto-centric debit card issuers with a dashboard that identifies blockchain activity and suspicious transactions. Essentially, the blockchain monitoring software leverages color-coded signals with different levels of suspicious activity. According to Mastercard, the software doesn’t do anything but warn the financial services provider, while banks and card issuers must make the judgment call.

“The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks, and merchants,” Ajay Bhalla, the president of cyber and intelligence at Mastercard told CNBC. Bhalla added:

The whole digital asset market is now a pretty large, substantial market.

Mastercard says that the company already utilizes software that monitors traditional finance applications and assets, and the new Crypto Secure platform is dedicated to cryptocurrencies like bitcoin (BTC) and ethereum (ETH). Mastercard’s president of cyber and intelligence was also asked about the crypto economy’s recent downturn, and Bhalla stressed that the financial services corporation was more “focused on providing solutions to the stakeholders for the long term.”

“These are market cycles, they will come and they will go,” Bhalla concluded. “I think you’ve got to take the longer view that this is a big marketplace now and evolving and is probably going to be much, much bigger in the future.”

What do you think about Mastercard’s new Crypto Secure platform? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Primakov / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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